That year, however, began the start of a steady decline in sales and by year's end the company's share in balls had eroded by some 25 percent. Open with a Top-Flite Strata ball and in 1998 Mark O'Meara had won a pair of majors, including the Masters, using a Top-Flite Strata Tour 90. At the start of 2005, Top-Flite still held a healthy 12 percent market share at on- and off-course golf shops. Further, Jim Furyk had just won the 2003 U.S. In fact, at the time of that deal, then Callaway CEO Ron Drapeau said, 'It's a good marriage on paper.' The purchase gave Callaway an impressive-and much sought-after-portfolio of intellectual property and golf-ball patents, while the combined market share of Top-Flite and Callaway balls made it the No.

It also still owns the Chicopee, Mass., ball factory (which greatly reduced production costs) as well as all the valuable intellectual property. Although some may look at the numbers and see a dramatic loss on the deal, fact is Callaway had a revenue stream for nine years with Top-Flite. Callaway sold off the Hogan brand to Perry Ellis earlier this year. Included in the 8-K filing is this statement: 'The net effect of the sale of these brands, including the gain recognized, is not expected to have a material effect on the Company's net income for 2012.' In 2003 Callaway purchased Top-Flite Golf (which, at the time, was comprised of the Top-Flite, Strata and Ben Hogan brands) for $125 million through a pre-packaged bankruptcy agreement. Today, the brand was sold by Callaway Golf to Dick's Sporting Goods for $20 million in cash, according to an 8-K filing. At one time Top-Flite enjoyed one of the largest market shares in the golf ball category.

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